Are you making these 2 mistakes with your company and your career?

As an executive coach, I find it fascinating that people don’t do the things that will make their business stronger, generate more profit, and ultimately help them retire with good savings. People who have had the courage to grow their business to the current level and then basically keep it at that level. That means their thought processes tend to be fixated on making sure they get at least as much as they did last year.

And of course, as we all know, setting your sights on getting at least that much means you get that much, or less.

The other problem is always doing what you’ve always done. There are two problems with this approach.

Things change

It’s no surprise, things change. As we advance in business, new ways of doing things, better ways of doing things, and new and better products emerge. If you don’t pick them up and at least try them, this is what happens:

Step 1: You lose all your customers who want to try the new product

Step 2 – After a while, other customers see that their previous customers are doing well with the new product and go to buy one themselves.

Step 3 – The product you sell is considered outdated and its price drops and the remaining customers try to beat you down even more as your product is no longer considered modern/superior/up-to-date.

Step 4: To try to improve your income, try to get the new products, you don’t have enough time to evaluate them, so you may not choose the best ones. Your remaining customers are leaving you because you no longer fully support the old product you sold, but you don’t sell the best new product that attracts the premium.

Step 5: You close the doors forever

Without thinking about the long game

Businesses are often so wrapped up in the operational details of doing business that they don’t take the time to step back and see where they should go. And I’ve been used to help companies get that focus and clarity of where they want to go.

Because running around like crazy trying to get business is useless if:

• You are not making enough profit during the customer’s lifetime: you are unable to invest in your company and staff
• You are selling the wrong things for your market: you have to work harder than you should
• Your people don’t know where the business is going; if they have different points of view, their priorities will also be different.
• Never completely resolve internal conflicts of processes, people, or policies – you waste time and money

And if you don’t know these kinds of things are going on, because you’re too close to the woods to see the trees, you’re bound to repeatedly lose money, or leave money on the table, or lose good employees.

So take a step back, keep in mind that your business can be improved in many ways to generate more profit and improve your staff as well.